Which Statement About Oligopolies Is True

question 123

Multiple Choice

Which statement about oligopolies is true?

• A)Most oligopolies in the U.S.engage in outright collusion.
• B)Most oligopolies operate at the minimum point of their ATC curves.
• C)Most of our GDP is produced by oligopolies.
• D)Collusion is illegal in the U.S.and does not exist.

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Definitions:

Autocratic

A leadership style characterized by individual control over all decisions and little input from group members; often associated with authoritative decision-making.

Trait

A distinguishing characteristic, such as a habit, manner, or peculiarity. Trait theory in leadership focuses on qualities that mark a leader, such as intelligence, integrity, and energy.

Leader Behavior Description Questionnaire

A survey instrument used to measure the behaviors of leaders, based on the perceptions of their subordinates.

Autocratic

A leadership or management style characterized by individual control over all decisions and little input from group members.